WellPoint, Inc., one of the nation’s largest health benefits companies, announced that it will acquire 1-800 CONTACTS, the largest direct-to-consumer retailer of contact lenses in the U.S. “This acquisition strategically aligns with our efforts to capitalize on new opportunities for growth, and further diversifies the company’s revenue stream into the complementary and higher-margin eyewear business,” said Angela F. Braly, chair, president and chief executive officer of WellPoint. The acquisition is expected to close in the third quarter of 2012.

W. Lee Ball, Jr., O.D., has been appointed to the Board of Directors of the American Optometric Foundation (AOF). The AOF, an affiliate of the American Academy of Optometry, is a philanthropic organization devoted to the advancement of optometric education and research.

Revenue in the “optometrists industry” is expected to increase at an annualized rate of 2.9% to $14 billion during the next five years, according to an industry report from the research firm IBISWorld. “While low disposable income and high unemployment deterred some consumers from seeking eye care, operators maintained growth by reducing prices and catering to favorably shifting demographics. The slowly recovering economy is expected to foster stronger growth in 2012,” IBISWorld says. Optometrist offices will also face rising competition from large chain retailers, such as Walmart. Optometrists are forecasted to focus more on providing the full scope of medical eye care as a result.